Tokyo, Japan, June 30, 2000 - Hot on the heals of opening an office in Mumbai, India, Jones Lang LaSalle Hotels
announced that they will expand operations into Tokyo, Japan to better service the changing Japanese market.
According to Arthur Adler, Managing Director, Americas, of Jones Lang LaSalle Hotels, The unsettling of the
Japanese economy caused a number of firms to sell under-performing hotel assets. Therefore, one of two things will happen -- firms will either sell their assets, which means they need brokerage and transaction advice, or
they will require asset management or advisory work. Since we specialize in these two areas, expansion into Japan is only natural.
Additionally, this will also enable us to better serve our U.S. and European clients who are considering selling,
refinancing, taking on investment partners or growing their brand, said Arthur Buser, Senior Vice President and Head of the West Coast office of Jones Lang LaSalle Hotels.
Previously, large corporations held Japanese hotels; deals were done principal to principal. Now we will see
more openly marketed deals, which definitely requires someone on the ground, included Adler.
Mr. Tomohiko Sawayanagi, Senior Vice President, has been appointed to head Jones Lang LaSalle Hotels' operations
in Japan. Most recently, Mr. Sawayanagi was responsible for hotel-related advisory and real estate finance within Greenwich NatWest's Tokyo office.
Mr. Sawayanagi's blend of investment banking skills and his international experience with upscale hotel
dispositions and real estate finance will complement Jones Lang LaSalle Hotels' global team, commented Adler.
Mr. Sawayanagi has been responsible for the sale and asset management of a number of international hotels and resorts throughout most regions of the world, including such prestigious projects as the Four Seasons Hotel - New York, the Regent Hotel - Fiji and the Four Seasons Resort - Bali, Indonesia.
Jones Lang LaSalle Hotels, the leading hotel investment banking services group in the world, provides clients with
value-added investment opportunities and advice. Jones Lang LaSalle Hotels' services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research. Jones Lang LaSalle (NYSE: JLL) is the world's leading real estate services and investment management firm, operating across more than 100 key markets on five continents.
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